Market Commentary
Global markets – US indices tumbled on Friday as Donal Trump imposed 100 pct tariff on China. Dow Jones closed down by 1.9 pct. While Nasdaq closed red by 3.6 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,479 | -1.9 | 6.9 |
| Nasdaq | 22,204 | -3.6 | 15.0 |
| Hang Seng | 25,672 | -2.4 | 28.0 |
| Nikkei | 48,088 | -1.0 | 20.5 |
Commodities – Gold prices rose and currently stood at USD 4,049 over tariff uncertainty. On the other hand, oil prices stood at USD 63.73/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,049 | 0.8 |
| Silver ($) | 50.97 | 1.7 |
| Brent Crude ($) | 63.73 | 2.6 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,860 | 55,130 |
| 100 DMA | 24,957 | 55,713 |
| 200 DMA | 24,188 | 53,326 |
Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading down by 1.1 pct. While Nikkei closed lower by 1.0 pct.
Indian Indices – India’s equity benchmarks are likely to open red as GIFT Nifty indicates. Benchmark Indices extended rally on Friday driven by IT and bank stocks as buoyant sentiment ahead of the earnings season.
Results Today – HCL Tech
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 82,500 | 0.4 | 5.6 |
| Nifty | 25,285 | 0.4 | 6.9 |
| Nifty Bank | 56,606 | 0.7 | 11.3 |
| Nifty Midcap 100 | 58,697 | 0.5 | 2.6 |
| Nifty Smallcap 100 | 18,133 | 0.7 | -3.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | 459 | -255,048 |
| DII | 1707 | 589,711 |
Stocks to watch
Positive Read through
- Phoenix Mills – Q2 mall consumption up 12 pct; commercial office occupancy rose YoY.
- Mankind Pharma – Business transfer agreement to buy Bharat Serums branded generic business for Rs 7.97 bn.
- NHPC – Reservoir filling for 1,000 MW project has begun; completion certificate for 300 MW solar project.
- Mahindra Lifespace – Acquired 13.46 acres land in Pune (GDV Rs 35 bn); partners for redevelopment project with GDV of Rs 8 bn.
- Welspun Enterprises – To mull fund raise; lowest bidder for two contracts worth over Rs 100 bn.
- NTPC Green – Signs MoU to supply green ethanol and green hydrogen to Eneos, Japan.
- Waaree Renewable – Margin at 20.41 pct versus 13.65 pct; sales jumped 48 pct YoY.
- Adani Energy – Added 190 ckm network in Q2; system availability at 99.63 pct.
- CAMS – Board approves stock split in 1:5 ratio.
- HCC – Bags Rs 2.04 bn Hindalco contract.
- HDFC AMC – To mull bonus issue on 18 Oct board meet.
Negative Read through
- Lupin – US FDA issues one observation for Somerset unit.
- BLS International – EAM restricts company from participating in new Indian mission tenders for two years.
- Endurance Tech – Aurangabad unit capacity at 1.50 lakh/month versus envisaged 1.80 lakh/month capacity.
- Biocon – US FDA issues one observation for manufacturing site in NJ, US following GMP inspection.
- Axis Bank – RBI issues a letter of caution over KYC compliance.
- Godfrey Phillips – Third-party tobacco processing unit in Andhra catches fire.
- Dmart – Standalone sales rose 15.4 pct, eight stores added in Q2.
- Signature Global – Pre-sales declined 28 pct, volumes fell 17 pct YoY.
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Advisor before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
